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| Share Name | Share Symbol | Market | Type | Share ISIN | Share Description |
|---|---|---|---|---|---|
| Satcom Grp | LSE:SGH | London | Ordinary Share | GB00B0D66620 | ORD USD0.10 |
| Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 9.00 | 0.00 | 01:00:00 |
| Industry Sector | Turnover | Profit | EPS - Basic | PE Ratio | Market Cap |
|---|---|---|---|---|---|
| 0 | 0 | N/A | 0 |
Hot Features
Premium
TIDMSGH
RNS Number : 4888C
SatCom Group Holdings plc
13 November 2009
+------------------------------------+------------------------------------+
| Press Release | 13 November 2009 |
+------------------------------------+------------------------------------+
SatCom Group Holdings plc
("SatCom" or "the Group")
Preliminary Statement of Results for the Year Ended 30 June 2009
SatCom Group Holdings plc, a distributor of satellite communications, announces
its unaudited preliminary results for the year ended 30 June 2009.
Financial Highlights
+---+-------------------------------------------------------------------+
| - | Turnover increased 43% to US$103 million (FY 2008: US$72.1 |
| | million) |
+---+-------------------------------------------------------------------+
| - | Group EBITDA increased by 13% to US$6.8 million (2008: US$6 |
| | million) |
+---+-------------------------------------------------------------------+
| - | Basic EPS increased by 11.3% to 6.87 cents (2008: 6.17 cents) |
+---+-------------------------------------------------------------------+
| - | Final dividend proposed of 0.50 cents per share (2008: 0.40 |
| | cents). |
+---+-------------------------------------------------------------------+
Operational Highlights
+---+-------------------------------------------------------------------+
| - | Addition of Inmarsat's Fleet Broadband to Company portfolio |
+---+-------------------------------------------------------------------+
| - | Investment in improved customer service via investing in a new |
| | facility in Australia and relocating our 24/7 customer service |
| | centre and merging it with that of SDN. |
+---+-------------------------------------------------------------------+
Chairman and Chief Executive Officer's Statement
HIGHLIGHTS
The Group has once again performed strongly, with revenues increasing in spite
of the global downturn, though the economic climate remains challenging.
However, the Mobile Satellite Services (MSS) sector continues to be both
resilient and dynamic and looking forward, the Group is well positioned to take
advantage of this.
The requirement for ever-increasing data speeds, both on land and at sea, has
led to increased demand for both mobile and fixed satellite services and we have
now added Inmarsat's Fleet Broadband to our portfolio, whilst our investment in
the VSAT business via our subsidiary SDN, continues to bring returns.
In pursuit of ever-better customer service in the markets we serve, the Group
has continued its international expansion, investing in a new facility in
Australia and relocating our 24/7 customer service centre and merging it with
that of SDN. We have also invested in communications infrastructure to ensure
that all Group locations are fully interconnected by a high-speed global
network.
The attached accounts of SatCom Group Holdings Plc ("SatCom" or the "Group")
show a significant year of revenue growth and continued growth in profitability.
In the last year the Group has concentrated on integrating and growing the
business during the difficult financial times of 2009.
FINANCIAL PERFORMANCE
I am pleased to report that the Group's results show increases across the board
when compared with 2008 numbers. The Group's turnover showed an increase of 43%
to $103 million with both Mobile Satellite Services ("MSS") and VSAT sectors
contributing strongly. The MSS sector showed growth in broadband products in
both maritime and land based services. As expected, the blended gross profit
margin reduced from 22.5% to 18.8% due to the increase in revenue from US
Government contracts which is at lower margins. Overheads increased by 28%, due
to a full year of SDN costs being included (2008: 2 months only). The Group
EBITDA has increased by 13% to $6.8 million (2008: $6.0 million).
The basic earnings per share has increased by 11.3% to 6.87 cents (2008: 6.17
cents) and diluted earnings per share has increased by 14.6% to 6.75 cents
(2008: 5.89 cents). The percentage increase in earnings per share has been
affected by the increase in average number of shares in issue for the year as
set out in Note 3 to these accounts. SatCom continues its progressive dividend
policy and it is the Board's intention to propose a final dividend of 0.50 cents
per share (2008: 0.40 cents). This dividend when added to the interim dividend
paid in April 2009 will provide total income of 0.75 cents per share (2008: 0.60
cents) representing a 25% increase over 2008.
The Group continues to invest in the IT involved in delivering higher quality
service to customers globally through our integrated billing system and
global broadband infrastructure.
In June 2009, the Group negotiated new facilities with HSBC which were used to
redeem Convertible Unsecured Loan Stock totalling GBP3,000,000 and US$600,000.
STRATEGY AND PROSPECTS
We have continued to develop our broadband range of products and services in
both the MSS and VSAT sectors and expect these sectors to continue to grow. The
Group is investing in value added products to complement these broadband
products.
SatCom continues to look at possible strategic acquisitions if and when
opportunities arise.
We thank the Group's employees around the world for their efforts in the last
year and also thank our customers for their business and look forward to working
with them in 2010.
RICHARD VOSMARK WHITE
CHAIRMAN CHIEF EXECUTIVE OFFICER
For further information:
+-------------------------------------------+----------------------------+
| SatCom Group Holdings plc | |
+-------------------------------------------+----------------------------+
| Mark White, Chief Executive Officer | Tel: +44 (0) 1722 439 206 |
+-------------------------------------------+----------------------------+
| mark.white@satcomgroup.com | www.SatComgroup.com |
+-------------------------------------------+----------------------------+
| | |
+-------------------------------------------+----------------------------+
| Martin Ward, Chief Financial Officer | Tel: +44 (0) 1722 439 201 |
+-------------------------------------------+----------------------------+
| martin.ward@satcomgroup.com | www.SatComgroup.com |
+-------------------------------------------+----------------------------+
+-------------------------------------------+----------------------------+
| Arden Partners plc | |
+-------------------------------------------+----------------------------+
| Fred Walsh / Matthew Armitt | Tel: +44 (0) 207 398 1651 |
+-------------------------------------------+----------------------------+
| fred.walsh@arden-partners.com | www.arden-partners.co.uk |
+-------------------------------------------+----------------------------+
Media enquiries:
+-------------------------------------------+----------------------------+
| Abchurch | |
+-------------------------------------------+----------------------------+
| Heather Salmond / Mark Dixon | Tel: +44 (0) 20 7398 7729 |
+-------------------------------------------+----------------------------+
| mark.dixon@abchurch-group.com | www.abchurch-group.com |
+-------------------------------------------+----------------------------+
Consolidated income statement for the year ended 30 June 2009
+--------------------+--------------------+--------------------+
| | 2009 | 2008 |
| | $'000 | $'000 |
+--------------------+--------------------+--------------------+
| Revenue | | |
+--------------------+--------------------+--------------------+
| Continuing | 103,728 | 72,070 |
| operations | | |
+--------------------+--------------------+--------------------+
| | | |
+--------------------+--------------------+--------------------+
| Group revenue | 103,728 | 72,070 |
+--------------------+--------------------+--------------------+
| Cost of sales | (84,195) | (55,825) |
+--------------------+--------------------+--------------------+
| | | |
+--------------------+--------------------+--------------------+
| Gross profit | 19,533 | 16,245 |
+--------------------+--------------------+--------------------+
| Administration | (13,729) | (10,731) |
| expenses | | |
+--------------------+--------------------+--------------------+
| | | |
+--------------------+--------------------+--------------------+
| Operating profit | | |
+--------------------+--------------------+--------------------+
| Continuing | 5,804 | 5,514 |
| operations | | |
+--------------------+--------------------+--------------------+
| | | |
+--------------------+--------------------+--------------------+
| Group operating | 5,804 | 5,514 |
| profit | | |
+--------------------+--------------------+--------------------+
| Interest | 5 | 81 |
| receivable and | | |
| similar income | | |
+--------------------+--------------------+--------------------+
| Finance costs | (1,043) | (998) |
+--------------------+--------------------+--------------------+
| Profit on ordinary | 4,766 | 4,597 |
| activities before | | |
| taxation | | |
+--------------------+--------------------+--------------------+
| Taxation | (668) | (918) |
+--------------------+--------------------+--------------------+
| Profit for the | 4,098 | 3,679 |
| financial year | | |
+--------------------+--------------------+--------------------+
| | | |
+--------------------+--------------------+--------------------+
| Attributable to: | | |
+--------------------+--------------------+--------------------+
| Equity holders of | 4,098 | 3,679 |
| the parent company | | |
+--------------------+--------------------+--------------------+
| | 4,098 | 3,679 |
+--------------------+--------------------+--------------------+
| | | |
+--------------------+--------------------+--------------------+
| Earnings per share | | |
+--------------------+--------------------+--------------------+
| Basic | 6.87 cents | 6.17 cents |
+--------------------+--------------------+--------------------+
| Diluted | 6.75 cents | 5.89 cents |
+--------------------+--------------------+--------------------+
There were no recognised gains or losses other than those shown in the
consolidated income statement.
Consolidated balance sheet as at 30 June 2009
+--------------------+---------------------+---------------------+
| | 2009 | 2008 |
| | $'000 | $'000 |
+--------------------+---------------------+---------------------+
| Assets | | |
+--------------------+---------------------+---------------------+
| | | |
+--------------------+---------------------+---------------------+
| Non-current assets | | |
| | | |
+--------------------+---------------------+---------------------+
| Goodwill | 18,739 | 18,045 |
+--------------------+---------------------+---------------------+
| Intangible fixed | 2,831 | 1,406 |
| assets | | |
+--------------------+---------------------+---------------------+
| Property, plant | 2,709 | 1,775 |
| and equipment | | |
+--------------------+---------------------+---------------------+
| | 24,279 | 21,226 |
+--------------------+---------------------+---------------------+
| Current assets | | |
| | | |
+--------------------+---------------------+---------------------+
| Inventories | 5,880 | 5,475 |
+--------------------+---------------------+---------------------+
| Trade and other | 19,307 | 17,523 |
| receivables | | |
+--------------------+---------------------+---------------------+
| Bank balances and | 2,774 | 2,097 |
| cash | | |
+--------------------+---------------------+---------------------+
| | 27,961 | 25,095 |
+--------------------+---------------------+---------------------+
| Current | | |
| liabilities | | |
+--------------------+---------------------+---------------------+
| Financial | 3,599 | 658 |
| liabilities | | |
+--------------------+---------------------+---------------------+
| Convertible | 1,223 | 6,451 |
| unsecured loan | | |
| stock | | |
+--------------------+---------------------+---------------------+
| Trade and other | 21,417 | 19,277 |
| payables | | |
+--------------------+---------------------+---------------------+
| Current tax | 1,442 | 1,028 |
+--------------------+---------------------+---------------------+
| Obligations under | 143 | 197 |
| finance leases | | |
+--------------------+---------------------+---------------------+
| | 27,824 | 27,611 |
+--------------------+---------------------+---------------------+
| Net current | 137 | (2,516) |
| (liabilities) / | | |
| assets | | |
+--------------------+---------------------+---------------------+
| | | |
+--------------------+---------------------+---------------------+
| Non-current | | |
| liabilities | | |
+--------------------+---------------------+---------------------+
| Financial | 7,930 | 4,977 |
| liabilities | | |
+--------------------+---------------------+---------------------+
| Convertible | - | 898 |
| unsecured loan | | |
| stock | | |
+--------------------+---------------------+---------------------+
| Obligations under | 76 | 137 |
| finance leases | | |
+--------------------+---------------------+---------------------+
| | 8,006 | 6,012 |
+--------------------+---------------------+---------------------+
| | | |
+--------------------+---------------------+---------------------+
| Net assets | 16,410 | 12,698 |
+--------------------+---------------------+---------------------+
| Shareholders' | | |
| equity | | |
+--------------------+---------------------+---------------------+
| Share capital | 6,053 | 6,053 |
+--------------------+---------------------+---------------------+
| Share premium | 4,845 | 4,845 |
| account | | |
+--------------------+---------------------+---------------------+
| Merger reserve | (10,884) | (10,884) |
+--------------------+---------------------+---------------------+
| Retained profits | 16,396 | 12,684 |
+--------------------+---------------------+---------------------+
| | | |
+--------------------+---------------------+---------------------+
| Total shareholders | 16,410 | 12,698 |
| funds | | |
+--------------------+---------------------+---------------------+
| | 16,410 | 12,698 |
+--------------------+---------------------+---------------------+
Consolidated statement of changes in equity for the year ended 30 June 2009
+---------------+----------+------------+-----------+-------------+-----------+----------+
| | Share | Share | Merger | Contingent | Retained | Total |
| | Capital | Premium | reserve | Share | profits | $'000 |
| | $'000 | $'000 | $'000 | Capital | $'000 | |
| | | | | $'000 | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Restated | 6,053 | 4,845 | (10,884) | 500 | 9,321 | 9,835 |
| Balance at | | | | | | |
| 30 June 2007 | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Changes in | | | | | | |
| Equity for | | | | | | |
| 2008 | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Profit for | - | - | - | - | 3,679 | 3,679 |
| the year | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Dividends | - | - | - | - | (316) | (316) |
| paid | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Adjustment | - | - | - | (500) | - | (500) |
| to | | | | | | |
| contingent | | | | | | |
| share | | | | | | |
| capital for | | | | | | |
| consideration | | | | | | |
| paid in cash | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Balance at | 6,053 | 4,845 | (10,884) | - | 12,684 | 12,698 |
| 30 June 2008 | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Changes in | | | | | | |
| equity for | | | | | | |
| 2009 | | | | | | |
| | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Profit for | - | - | - | - | 4,098 | 4,098 |
| the year | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Dividends | - | - | - | - | (386) | (386) |
| paid | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
| Balance at | 6,053 | 4,845 | (10,884) | - | 16,396 | 16,410 |
| 30 June 2009 | | | | | | |
+---------------+----------+------------+-----------+-------------+-----------+----------+
Consolidated cash flow statement for the year ended 30 June 2009
+---------------------------+---------+------+---------+---------+------+---------+
| | |2009 | | |2008 | |
+---------------------------+---------+------+---------+---------+------+---------+
| | $'000 | | $'000 | $'000 | | $'000 |
+---------------------------+---------+------+---------+---------+------+---------+
| Net cash generated from | | | 5,677 | | | 4,585 |
| operating activities | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Cash flows from investing | | | | | | |
| activities | | | | | | |
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Interest received | 5 | | | 81 | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Purchase of intangible | (1,854) | | | (673) | | |
| fixed assets | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Purchase of property, | (1,480) | | | (366) | | |
| plant and equipment | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Acquisition of subsidiary | (694) | | | (4,649) | | |
| (net of cash acquired) | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Net cash used in | | | (4,023) | | | (5,607) |
| investing activities | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Cash flows from financing | | | | | | |
| activities | | | | | | |
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Dividends paid | (386) | | | (316) | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Redemption of Convertible | (6,257) | | | - | | |
| Unsecured Loan Stock | | | | | | |
| ("CULS") | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Increase / (Decrease) in | 488 | | | (267) | | |
| short term borrowing | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Net increase in long term | 5,394 | | | 2,885 | | |
| borrowing | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Capital element of | (216) | | | (142) | | |
| finance lease rental | | | | | | |
| payments | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Net cash generated by | | | (977) | | | 2,160 |
| financing activities | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Net increase (decrease) | | | 677 | | | 1,138 |
| in cash and cash | | | | | | |
| equivalents | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Cash and cash equivalents | | | 2,097 | | | 959 |
| at beginning of year | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
| Cash and cash equivalents | | | 2,774 | | | 2,097 |
| at end of year | | | | | | |
+---------------------------+---------+------+---------+---------+------+---------+
NOTES
1.This preliminary announcement was approved for issue by a duly appointed and
authorised committee of the Board of Directors on 12 November 2009.
2. Basis of preparation
The financial information set out in this announcement is unaudited and does not
constitute statutory financial statements for the year ended 30 June 2009 or 30
June 2008 within the meaning of Section 434 of the Companies Act 2006. The audit
report on the full financial statements has not yet been signed.
3.Earnings per share
The calculations of basic and diluted earnings per share are based on the
following data:
+------------------------+------------------------+------------------------+
| | 2009 | 2008 |
| | $'000 | $'000 |
+------------------------+------------------------+------------------------+
| | | |
+------------------------+------------------------+------------------------+
| Profit for the purpose | 4,098 | 3,679 |
| of basic earnings per | | |
| share | | |
+------------------------+------------------------+------------------------+
| Effect of dilutive | | |
| potential ordinary | | |
| shares: | | |
+------------------------+------------------------+------------------------+
| Interest on | 42 | 421 |
| convertible loan notes | | |
+------------------------+------------------------+------------------------+
| | | |
+------------------------+------------------------+------------------------+
| Profit for the | 4,140 | 4,100 |
| purposes of diluted | | |
| earnings per share | | |
+------------------------+------------------------+------------------------+
| | No. of shares | No. of shares |
+------------------------+------------------------+------------------------+
| | | |
+------------------------+------------------------+------------------------+
| Weighted average | 59,628,644 | 59,628,644 |
| number of ordinary | | |
| shares in issue during | | |
| the year | | |
+------------------------+------------------------+------------------------+
| | | |
+------------------------+------------------------+------------------------+
| Effect of dilutive | | |
| potential ordinary | | |
| shares: | | |
+------------------------+------------------------+------------------------+
| Staff options | 510,305 | 306,278 |
+------------------------+------------------------+------------------------+
| Convertible loan notes | 1,153, 846 | 9,615,685 |
+------------------------+------------------------+------------------------+
| | | |
+------------------------+------------------------+------------------------+
| Diluted weighted | 61,292,795 | 69,550,607 |
| average number of | | |
| ordinary shares in | | |
| issue during the year | | |
+------------------------+------------------------+------------------------+
4.Segmental analysis
For management purposes, the group is currently organised into 4 geographical
operating divisions - European Union, United States, Asia and Rest of World.
These divisions are the basis on which the Group reports its primary segment
information.
Segmental information on a Group basis is set out below:
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | European Union | United | Asia | Rest of | Group |
| | | States | | World | |
+---------------+---------------------------------+------------------------+----------------------+-----------------------+------------+
| | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 | 2009 | 2008 |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | $000's | $000's | $000's | $000's | $000's | $000's | $000's | $000's | $000's | $000's |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Revenue | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Revenue | | | | | | | | | | |
| by | | | | | | | | | | |
| destination | | | | | | | | | | |
| | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Sales to | 14,418 | 12,526 | 64,507 | 36,073 | 18,109 | 18,504 | 6,694 | 4,967 | 103,728 | 72,070 |
| third | | | | | | | | | | |
| parties | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | -------- | -------- | --------- | --------- | ---------- | --------- | -------- | -------- | ---------- | ---------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Revenue | | | | | | | | | | |
| by origin | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Total | 6,403 | 13,619 | 58,065 | 27,757 | 62,207 | 44,990 | 1,873 | 2,409 | 128,548 | 88,775 |
| sales | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Inter-segment | (3,213) | (6,441) | (1,120) | (1,941) | (20,248) | (8,289) | (239) | (34) | (24,820) | (16,705) |
| sales | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | -------- | -------- | --------- | --------- | ---------- | --------- | -------- | -------- | ---------- | ---------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Sales to | 3,190 | 7,178 | 56,945 | 25,816 | 41,959 | 36,701 | 1,634 | 2,375 | 103,728 | 72,070 |
| third | | | | | | | | | | |
| parties | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | -------- | -------- | --------- | --------- | ---------- | --------- | -------- | -------- | ---------- | ---------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Results | | | | | | | | | | |
| | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Segment | 1,042 | 136 | 1,121 | 977 | 4,198 | 4,473 | (348) | 147 | 6,013 | 5,733 |
| profit | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | -------- | -------- | --------- | --------- | ---------- | --------- | -------- | -------- | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Common | | | | | | | | | (209) | (219) |
| costs | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | | | | | | | | | -------- | --------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Operating | | | | | | | | | 5,804 | 5,514 |
| profit | | | | | | | | | | |
| | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Net | | | | | | | | | (1,038) | (917) |
| interest | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | | | | | | | | | -------- | --------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Group | | | | | | | | | 4,766 | 4,597 |
| profit | | | | | | | | | | |
| before | | | | | | | | | | |
| taxation | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | | | | | | | | | -------- | --------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Other | | | | | | | | | | |
| | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Capital | 366 | 122 | 434 | 184 | 2,635 | 846 | - | - | 3,435 | 1,152 |
| additions | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Depreciation | 139 | 150 | 360 | 151 | 576 | 205 | 1 | - | 1,076 | 506 |
| and | | | | | | | | | | |
| amortisation | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Net | | | | | | | | | | |
| assets | | | | | | | | | | |
| | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Segment | 1,009 | 1,010 | (820) | (1,188) | 12,587 | 9,690 | (346) | 111 | 12,430 | 9,623 |
| net | | | | | | | | | | |
| assets | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | -------- | -------- | --------- | --------- | ---------- | --------- | -------- | -------- | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Unallocated | | | | | | | | | 3,980 | 3,075 |
| assets | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | | | | | | | | | -------- | --------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| Total net | | | | | | | | | 16,410 | 12,698 |
| assets | | | | | | | | | | |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
| | | | | | | | | | -------- | -------- |
+---------------+----------+----------+-----------+-----------+------------+-----------+----------+----------+------------+------------+
This information is provided by RNS
The company news service from the London Stock Exchange
END
FR GGMMMZFMGLZM
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